The nation’s single-family homebuilders are feeling a lot better about their business, even as mortgage rates move higher. A monthly sentiment index rose to the highest level in July since November of 2005.
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) rose to 60; 50 is the line between positive and negative sentiment. The index was at 53 in July of 2014. June’s reading was also revised higher from 59 to 60.